1939-02-06 — Page 11

HONGKONG DAILY PRESS

Finance and Commerce

CHINA'S COTTON TRADE

..

ON THE UPGRADE

Industry Reviving From Effects Of The War

CHUNGKING, Feb. 4 (Centrul)—With the help of the Agricultural Adjustment Administration and the Industria) and Mining Readjustment Còmmittee. China's cotton Industry which was hard hit by the war is gradually reviving in the interior provinces.

The two organisations, ander the control of the Ministry of Economies, were created by the National Government immedi- ately after its removal to Chungking in 1937.

The Agricultural Adjustment Administration, after

cotton into being, proceeded to buy up the raw the country.

coming throughout

According to statistics re- were inside the war zomes, and leased by

the Cotton Indus-only 11 are located in the rear. trial Commission, China's cotton In compliance with Government production in 1937 amounted to orders for removal, those in the 12,713,593 pleuls. Of this amount. war areas have moved into Sze- the Commission planned to buy chuen, Shensi and other in- at least 4.000.000 piculs produced terior provinces and alded by the in the provinces of Hopel, Shan-Industrial and Mining Readjust

Shensi tung Honan,

Hupeh.ment Committee, have Kiangsu, Cheklang and Antwel. operations in new premises.

SWEPT BY WAR

Hardly was the purchasing plan started in November, 1937, than many main cotton producing cen- The swept by war. tres were

for cotton purchase was area limited to Honan, south of the Yellow River, and Shansi, Kiang- su. Cheklang 'and Hupeh. t to collected Jurie. 1938, the cotton In those five provinces totalled 120,000 plculs, only three per cent.

of the amount originally planned

to buy.

The cotton purchased was ship- ped to Chungking and other tr dustrial centres in the rear for the "otton

among

distribution mills which have been.. removed there from the coastal cities.

It was the Industrial and Min- ing Readjustment which

provided

1.1

Committee necessary for the removal of the cotton mills to the interior

transportation facilities

A

Arcouding te an

investigation

mills

8" Chinese-operated cotton

ADVERTISEMENT

"By ORDER of the MORTGAGEES

PARTICULARS AND CONDITIONS

OF SALE

of the

VALUABLE LEASEHOLD

PROPERTY.

Situate at

SHAUKIWAN IN THE COLONY

OF HONG KONG

and

24

REGISTERED IN THE LAND OFFICE AS SHAUKIWAN LOT NO. 126 TOGETHER WITH THE BUILDINGS THEREON NOW KNOWN AS

NO. 9, PRAYA SHAUKIWAN

WEST

To be sold by

PUBLIC AUCTION

on

FRIDAY, the 10th day of February, 1939, at 3 o'clock p.m.

At the Ching" Auction Room, No. 5. Queen's Road Central. 1st floor. Victoria, Hong Kong.

by

Mr E. V. M. R. DE SOUSA Auctioneer.

Annual Crown Rent £2/11/5 (or $12.34). Total Area 5.800 square feet or thereabouts.

For further particulare apply to:

Messra. T'80 AND HODGSON, Mortgagees' Solicitors. Prince's Building, 1st floor. Ice House Street,

Hong Kong

or to

Mr. E. V. M. R. DE SOUSA

Auctioneer.

No. 5, Queen's Road Central first floor. Hong Kong.

Hong Kong. 6th February, 1938.

resumed

H. K. DEFICIT OF $440,043 IN 1938

In Spite Of Very High Revenue

ex-

sus-

As a result of increased penditure in nearly 11 Heads. the Hongkong Government tained a deficit of $440,043 for tho

year 1938, according to figures published in "Government Guzette on Saturday.

FINANCE

SHARE MARKET

IMPROVING

(BY C. A. L. RIČKETT) Secretary, Hongkong Sharebrokers' Association

February 3.*

H. K. STOCK

EXCHANGE

February, 1

The market was quietly steady during the short session and the The week opened with a quiet passed was an slightly improved small volume of business that

but steady market. Later in the week, when news wash received of the improved European political situation, prices hardened and the .market took an upward trend. There has been a substantial in- crease in the volume of business recorded for the week. At the close of business the feeling is more optimistic and the undertone of the market is firm.

H.K. Banks had buyers at $1,400, with sales reported at $1,410. Untons changed hands at $465. Trams Improved to $17.40 and at the close were wanted at $17.35. Revenue, totalling $36,735,851. | Hotels had buyers at $0.50 and) was the highest ever recorded. sellers at $7.10. Lands were want- exceeding that of the previous ed at $36), with sales reported at year by $3,539,485.

Expenditure, however, was also record, the total of $37.175. 89 being $5,084,675 higher than in 1937

year.

At the beginning of the It was estimated that the Colony would have a surplus of $3,124.620. compared

the with actual surplus

$1,085.164 in of

1937.

to

EXPENDITURE INCREASE ALL COTTON SÖLD

There was a big increase in ex- To these factories that

have penditure in December, the total removed to the interior cities and

of $5,982,720 being nearly $3,000, resumed operations, the Agricul-000 above the expenditure for the tural Adjustment

Administration same period in 1937. Revenue in has sold all the raw cotton pur-December amounted

$3,199, chased through the five provinces. 514. compared with $2,921,219 in In addition, this committee. In the same period in 1937.

Industrial confunction with the and Mining Readjustment Com- mitler, has placed at the dis year.

Trans- Dusal of the Southwest portation Bureau $500.000 for the

this figure. Providents (old),'-in anticipatlün of improved dividend, came in for Inquiry at $6.35, and the new shares were wanted $6.20. Watsons advanced to $8. A fair business has been reported

at

in Electrics at $58. China Lights (old) were wanted at $8.70 and H.K. Docks fold) at $171,

The "Star Ferry Co. has announ- ced a final dividend of $4.25, mak- Ing $6.35 for the year 1938.

Cold mining stocks have also

reacted favourably to the European political news, resulting in a steady market and improving prices.

WEEK'S BUSINESS

The volume of business transact- ed for the week ending February 3 is as follows:-

Miscellaneous Services, which Electrics purchase of a fleet of motor trucks 665 in 1938-an Increase of $1.411. Telephones

cost $1.628.917 in 1937, cost $3.040. Trams

to speed up the transportation | 942..

levels

BUYERS

Bank of East Asia, 580. Canton Insurance, $210.. Union Insurance, $185. China Underwriter, $0.48 HE. Fire Insurance. $170. H.K. Docks (Old), $174. HK. Docks (New), $16. Providents (Old), $6.35. Providents (New),$8,15 H. & S. Hotels, $8.80. H.K. Lands, $361. HK, Realties, $5.50 - - Chinese Estates. $97. H.K. Tramways, $17.35. Yaumati Ferries (Old), $224. China Lights (Old), $8.65. H.K. Electrics, $58. Macao Electies, $171. Sandakan Lights, $10. Telephones (Old), $23, Telephones (New), $7.65. Cements, $15.85 H.K. Ropes, $4. Watsons. $7.80 - Wing On (H.K.), -$38. Entertainments, $7. Vibro Piling. $5. Marsmans (HK). 2/8.

SELLERS

Hongkong Bank, $1420, Canton Insurance. $220, H.K. Lands, $367- H.K. Electrics, $58). Cements, $161.

SALES

Union Insurance, $485. H.K. Docks (Old), $17.60. Providents (New). $61. H.K. Lands, $364..

HK. Tramways $17.40/50. H.K. Electrics, $581/593. ·

Caments, $18.

Constructions, $14.

PHILIPPINE MINES Antamoks, P. 42).

Baguio Gold PS. 261.

Benguet Consolidated Ps., 14:00 Coco Grove Ps.. .47

ed

Nearly every Department snow.

increased expenditure

"

No. of Shares

Price

last

H.K. Banks... Unions

4 $1.385

20

460 to 465

452

55.25 to 58.50

1,100

16.90 to 17.40

(0.)

of cotton, Meanwhile, A consi- MILITARY CONTRIBUTIONS derable number of mule carts are

to Military contributions

the Lands used "to transport the cotton. Imperial Government. increased Steamboats.... from the outlying districts.

to the China Light from $5,586,415 in 1937 With a view to supplementing all-time record of $6,880,723- Rights machinery, the Ministry of Econo-la jump of $1.294,308. It will or Hotels ..... mies has adopted a comprehen- recalled that Government recent H.K. Docks sive programme for the promotion fly announced that future,

(N.) contri- of cotton spinning and

Gozem Watsons weaving butlons to the Imperial by hand boms, In accordancemment have been fixed at $6.000.000| Ent'tainments with orders circulated

by the per annum.

Realties Ministry, the authorities in all Only

Cements the cotton producing provinces creased

Providents:

(0.1

Star Ferries...

100

50 500

·150

22.75

71.00

36.00 to 36,50

13.50 to 144

Atoks, Ps. 351.

1.783 1,350

2.95 to 3.00

6.60 to 6.90

450 1,500

16.30

7.75 to 8.00

362 7.10

seven Heads showed in.

Revenue during

1938,

500 5.65 500

15.95

500

6.35

Revenue

(N.) a 500 Sinceres.......

6.20

90

1.70

15 to 49

.041

H.K. Govt. 4%

Loan ... $3,000

64% premi

in the rear have organised Cot the principal being Revenue from ten Cloth Improvement Com-dultes, which increased from mittees to proceed with the task.

HONGKONG

SHAREBROKERS'

ASSOCIATION

Voliune of Business Transacted en Saturday, February 4

No. of

STOCK

Electrics

$7,625,411 to 39,105,121

from this source comprised al- Underwriters. 14,000 most one third of the Colony's H.K. Mines...20,000

total revenue.

were

LAND SALES Ur Land Sales showed a welcome Increase of $671,046, after

de H.K. Govt. 4 clining steadily for several years.

Loan

$5,000 The total receipts in 1938 $1.199,510, compared

22,000 Itogons with $528.

Coco Grove..... 1,200 463 In 1937. The actual revenue exceeded the estimated revenue by"!

United

$844.510.

Despite the serlou, loss of busi ness. since

the closure of the Chinese section of the railway. the Kowloon-Canton Railway 'suc

Επ ceeded

Increasing revenue from $1,297,040. In 1937 to $1,982,

increase of $484.347. The Coss sustained

by the KCR as a result of the closure may be

re-

Shares Price

300 $581

100

584

28

59

6

59)

Watsons

500

8.10

H.K. Docks

500

171

Watsons

200

&

Providents (0.)

500

IN.)

000

2,150

6.40 6.25

52 287, an

1,000

.55

Ps.0.21

Underwriters

Demonstrations

SILVER MARKETS

LONDON SILVER

London. Feb. 4 (Reuter). Sliver--India and speculators bought. Offerings small, market quietly steady.

Spot, 20-1/16d.. Forward, 19-3/4d.

NEW YORK SILVER

New York. Feb. 4 Reuter), Omelal Price-unquoted

BOMBAY SILVER

ܙܐ

Market-Quiet. Offtake 20 bar.

Ready

Bombay, Feb. 4 (Reuter)..

Iridian Mint Silver

52-05 52-06

of the Chinese section instanced by comparing the

venue of $138.027 in

of

December, $39.280

1937, with the total

in the last month of 1938.

ASSETS SHOW DECLINE Hongkong excess of Assets over Liabilities has decreased to $13. 562,234 as a result of the defcit sustained in 1938, it was "reveal- ed on Saturday morning,

The Colony's actual cash assets now total just over $3,000,000. owing to the fact that over $12,000,000 has been advanced for

Public Works against loans which have not yet been issued.

Feb. 14 Settlement 53-03 52-04 MR. F. J. MASSEY

Mar. 17 Settlement.

"

52-00 52-01

BRITISH TIN

INTERVIEWED

"The British Commonwealth Re- lations Conference was a great LONDON, Jan. 10-Chief interest success" declared Mr. F. J. Massey. in the report of British Tin Invest-ann of the Hon. Mr. Vincent Massey. Canadian Trade Commissioner in

ment for the calendar year London, who arrived in Bingapore

1938 centres in the balance sheet, as the pront figure and anal divi- by the "Opten Ncort" recently

on his way back to England,

dend were already known. During

Mr. Masrey was presa Attache at

the year the company has taken the Conference, and in an interview advantage of the depressed state of the Tin shard market to add to expressed the belief that the frank exchange of views at the

its holdings. The book value of Conference would do much the Investments is up from £2,510,-

to

137 to £2,022.962-the latter figure

the Improve

relations and after deduction of balance of pro-strengthen the ties between the At on realization account amount various Colonies and Dominions. fing to £35,016-while cash shows a The Oxford University presa

would. he said, 'shortly, publish a

decline from £208.834 to £90.783 book on the Conference. Editor of Some idea of the strength of the the book is Mr. H. V. Hodron, well- company's financial position is. afforded by the intimation that the known authority on Empire affairs.

market value of quoted securities.

which from 97.8 per cent. of the though as a holding concern its re- total, is in aggregate in excess of venue will necessarily be slow to re- cost. In addition there is a general flect a revival. The current quota- réserve of £575,000, The report thus tion of 139, 6d; for the. 10s, sharca confirms the Impression that the viewed in the light of last year's ? company is well placed to beneût per cent, dividend, reveals that the from the improved conditione now market is alive to the promised in the tin industry, al- potentialitics.

recovery

Paracale 4,000 Antamoks......11,000

Suyocs Demonstra-

tions Masbate

22,000

:19,500 3,000

(cum int)

4% prem.

(ex int)

Consolidated Mines Fs., 0025 Demonstrations, Ps 21.

I.X.L., 66..

Paracale Gumaus Ps.. 124.

San Mauricio Ps., 1.72 Suyoc Ps., .23

United Paracale Pa., .67

THE SHARE MARKET

Philippine Gold Mining Quotations

Antamoks

Atoks

Baguio Gold

Benguet Consol,

Ps.0.32 to:35

Coco Grove

45 to 48

Concol. Mines Demonstrations

I X. L.

February 4.

421

351

26

.67 to.70

441

Paracale Gumaus 221 to 23 San Mauricio

Suyoc Consol. 214 to 224 United Paracales 171

Market Comment.-Q.

SHIPMENTS HANDLED

TRUCKING

Solve your problems by

entrusting your work" to

14.00

47

00.25

21

60"

12

1.72

23

07

UNITED DELIVERY. CO. LTD.

HONG KONG PREMIER TRANSPORT ́CO,

PHONES: 20906, 58556, 58557. 58985.

ON

SALE

JANUARY

NUMBR

OF

THE

MONDAY, FEBRUARY

Why

R

TAG: INPARÁTY SLUT. TO LINK

VAT

69

is the

preferred Scotch Whisky

Its liquour character, the combined effect of supreme quality and age, make VAT 69 the preferred Scotch Whisky among qualified judges.

Always ask for it. You cannol

serve your guests a ̈ better whisky!

WOHNRY

VAT 69

Sanderson

adarson stem. Let

Destillar2.

LEITH,

Quality Tells. 1

Junderson's

LUXURY BLEND, SCOTCH WHISKY Imported by

W. R. LOXLEY, CO (CHINA) L. YORK BUILDING HONG KONG

Datilind and kettled in Scotland by Wm. Sanderson & Son, hid... LEITH

C.F.H

What do

you want?

If there is anything you want to buy or

try

25 words $1.00 prepald

for 3 Insertions.

CHINA JOURNAL

6, 1939. -PAGE 1

LAMMERTS' AUCTIONS]

PUBLIC AUCTION.

THE Undersigned have received

Instructions "

TO SELL BY

PUBLIC“ AUCTION

ON

THURSDAY,

the 9th FEBRUARY, 1939

Commencing at 2.30 PM.

At their Bales Room, No. 35, Hankow Road Kowlcon

A QUANTITY OF VALUABLE HOUSEHOLD FURNITURE

Comprising:-

Blackwood Ware. Teakwood Din- ingroom, Bedroom, Drawingroom and Office Furniture, Cutlery, Pictures, Carpets, Rugs, Brass, E P., Glass and Porcelain Ware, Omaments, Cabin and Wardrobe Trunks, Gramophones and Records, Electric Lamps and Heaters, Cooking Utensils, etc, etc.

On View from "WEDNESDAY, the

8th FEBRUARY, 1939.

TERMS:-Cash on Delivery.

LAMMERT BROS..

AUCTIONERS,

PUBLIC AUCTION.

THE Undersigned have received

instructions

to sell by

PUBLIC AUCTION

Con

FRIDAY,

||

the 10th, FEBRUARY, 1939

Commencing at 2.30 P.M.

at their Bales 'Room, No. 2, Connaught Road, Central, Ground Floor.

3

A QUANTITY OF VALUABLE

HOUSEHOLD FURNITURE

Comprising:---

Teakwood Bedtead, Divana, Chesterfeld

Buites, Wardrobes,.. Dressing Tables, Chests of Drawers, Sideboard, Dinner Waggan. Dining Tables, Chairs and Armchairs, Carpets and Rugs, Pictures, Desks, Typewriter Tables, Filing Cabi- nets, Bookcases, Glass Cabinets, Wooden Trunks, Cutlery, Crockery, Glasses, Tea Sets, Gramophones año Records, Sewing Machines, Typewriters, Radio Bets, Electric Table Lamps and Heaters, Orna- ments. Curios, etc., etc.

Also

A FEW PIECES OF BLACKWOOD FURNITURE

and

1 Full Bize White Polar Bear

Skin Rug

1 Electric Refrigerator "Elec-

trolux Ltd."

1 Piano "Haake Hanover".

1 Cooking "Stove "Carron Dover"

On View from THURSDAY, the

9th FEBRUARY, 1939. -

-

*TERM8: Cash on Delivery.

LAMMERT BROS..

AUCTIONEERS.

CONTENTS

"Pacified" Shanal..... By H. H. Barger

An Aftermath of the War

By Rewi Alley

The Chinese Female Impersonator....

By Julius Figuer Prelude to the Sino-Japanese Bostilities By Hubert Freyn

"People Who Matter"

PEOPLE WHO

MATTER, to the

PRICE at all bookstores

"New Binklang In the Making

By Charles Wang, What is Biological Control?............. .... .....

By E. F. Linssen Western Credits for China...

By John Ablere

$150

„Tune in on STATION XMHC, 7.- Kilncycles, at 9.80 on Wednesday mening for our Werkly Broadcais

advertiser are the people who ČRIZ

afford to boy his goods. Most of

these people buy.

and read the

Hong Kong Daily Press.